Sec. 4. Actions to be taken by the Council of Economic Advisers during a cost-of-living emergency
786 words·~4 min read·
/bill/119/s/4266/is/section-4A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
During the period that the emergency declared under section 3 is in effect, the President, acting through the Chair of the Council, shall undertake the following actions: In carrying out the duties described in section 10(c) of the Employment Act of 1946 ( 15 U.S.C. 1023(c) ), the Council shall prioritize economic analysis and advice addressing the following subjects: The affordability of basic household necessities. The economic pressures impacting low- and middle-income families.
The distributional consequences of Federal economic policy. Not later than 7 days after the date of enactment of this Act, the Chair of the Council shall establish within the Council a Cost-of-living Emergency Office that shall be responsible for coordinating whole of Government efforts to reduce the costs of basic household necessities. Pursuant to the authority under section 10(b) of the Employment Act of 1946 ( 15 U.S.C. 1023(b) ), the Chair of the Council shall appoint personnel to serve in the following roles:
Special Advisor to the President for Grocery Costs, who shall serve as the principal advisor to the President for all issues relating to the costs of food at home in the United States. Special Advisor to the President for Housing Costs, who shall serve as the principal advisor to the President for all issues relating to the costs of owned or rented dwellings for individuals in the United States. Special Advisor to the President for Utility Costs, who shall serve as the principal advisor to the President for all issues relating to the cost of utilities, fuels, and public services for individuals in the United States.
Special Advisor to the President for Health Care Costs, who shall serve as the principal advisor to the President for all issues relating to the cost of health insurance, health care services, and medications for individuals in the United States. Special Advisor to the President for Transportation Costs, who shall serve as the principal advisor to the President for all issues relating to— the cost of gasoline and other transportation fuels for individuals in the United States; costs associated with owning or leasing a personal vehicle for individuals in the United States; and other costs relating to transportation to or from work, school, or other essential activities for individuals in the United States.
Special Advisor to the President for Wages, who shall serve as the principal advisor to the President for all issues relating to wages of individuals in the United States. Each Special Advisor appointed to a role under subparagraph
(A)shall carry out the following duties: Assemble and lead a task force to be made up of members of the Cabinet (or the designees of such members), the heads of independent regulatory agencies, as defined in section 3502 of title 44, United States Code, and other senior executive branch officials who shall meet not less frequently than weekly to discuss actions that may be taken to reduce the costs of the goods and services and strengthen household wages within the purview of the Special Advisor. Prepare a weekly report to be distributed to the President, Vice President, the Chief of Staff to the President, the Director of the Office of Management and Budget, each member of the Cabinet, and other senior employees serving in the Executive Office of the President that— provides details on the costs of goods and services within the purview of the Special Advisor; and identifies actions that may be taken to lower those costs. Host regional listening sessions focused on the costs of the goods and services within the purview of the Special Advisor that— are held in geographically diverse regions of the United States; allow members of the public to participate and share concerns related to the costs of goods and services within the purview of the Special Advisor; and occur not less frequently than 3 times per year. Prepare a summary report of each regional listening session held under clause
(iii)and share the report with the Council, the Joint Economic Committee, the Speaker of the House of Representatives, and the President of the Senate. Provide testimony to the Joint Economic Committee not less frequently than once a year to identify actions that may be taken to reduce the costs of the goods and services within the purview of the Special Advisor. Every 3 months, the Council shall submit a State of Household Budgets report to the President, the Commission, and the Joint Economic Committee that includes information relating to the following metrics: The median household purchasing power in the United States. The real wage growth net of housing and health costs in the United States. Household debt-to-income burdens in the United States. Regional affordability indexes in the United States. Basic household necessities inflation measures.
Connectionstraces to 1
Traces to 1 document
U.S. Code
Citation graph
cites case law
Sec. 4
Actions to be taken by the Council of Economic Advisers during a cost-of-living emergency
Cites 1Cited by 0 across 0 sources